Freeport-McMoRan Inc (FCX) Position Boosted by Norinchukin Bank The
Norinchukin Bank The boosted its position in shares of Freeport-McMoRan Inc (NYSE:FCX) by 13.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 86,409 shares of the natural resource company’s stock after buying an additional 10,412 shares during the period. Norinchukin Bank The’s holdings in Freeport-McMoRan were worth $1,154,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of FCX. Stratos Wealth Partners LTD. boosted its stake in Freeport-McMoRan by 28.4% in the third quarter. Stratos Wealth Partners LTD. now owns 28,381 shares of the natural resource company’s stock worth $308,000 after buying an additional 6,271 shares during the last quarter. Quantitative Investment Management LLC boosted its stake in Freeport-McMoRan by 289.3% in the third quarter. Quantitative Investment Management LLC now owns 495,200 shares of the natural resource company’s stock worth $5,377,000 after buying an additional 368,000 shares during the last quarter. TradeLink Capital LLC boosted its stake in Freeport-McMoRan by 31.3% in the third quarter. TradeLink Capital LLC now owns 17,212 shares of the natural resource company’s stock worth $187,000 after buying an additional 4,100 shares during the last quarter. Sigma Investment Counselors Inc. boosted its stake in Freeport-McMoRan by 17.2% in the third quarter. Sigma Investment Counselors Inc. now owns 13,710 shares of the natural resource company’s stock worth $149,000 after buying an additional 2,010 shares during the last quarter. Finally, Mirador Capital Partners LP purchased a new stake in Freeport-McMoRan during the third quarter worth approximately $182,000. Hedge funds and other institutional investors own 66.80% of the company’s stock.
Shares of Freeport-McMoRan Inc (NYSE:FCX) traded down 0.26% during mid-day trading on Monday, hitting $11.67. 9,747,397 shares of the stock traded hands. The firm has a 50 day moving average of $12.29 and a 200 day moving average of $13.82. Freeport-McMoRan Inc has a 12 month low of $9.24 and a 12 month high of $17.06. The stock has a market cap of $16.88 billion, a price-to-earnings ratio of 62.41 and a beta of 2.49.
Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Tuesday, April 25th. The natural resource company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. Freeport-McMoRan had a positive return on equity of 3.52% and a negative net margin of 28.09%. The firm had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period last year, the company posted ($0.16) earnings per share. The business’s quarterly revenue was down 5.3% on a year-over-year basis. On average, equities analysts expect that Freeport-McMoRan Inc will post $1.07 EPS for the current fiscal year.
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FCX has been the topic of a number of recent analyst reports. Barclays PLC reiterated an “equal weight” rating and set a $14.00 price target on shares of Freeport-McMoRan in a report on Monday, January 30th. Zacks Investment Research cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Monday, January 30th. Vetr upgraded shares of Freeport-McMoRan from a “buy” rating to a “strong-buy” rating and set a $19.31 price target on the stock in a report on Wednesday, February 1st. FBR & Co increased their price target on shares of Freeport-McMoRan from $12.00 to $13.00 and gave the company a “mkt perform” rating in a report on Friday, February 3rd. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $14.00 price target on shares of Freeport-McMoRan in a report on Tuesday, February 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $13.76.
Freeport-McMoRan Inc (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company’s segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.
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